Opus Soft eyes $15 mn deals abroad

Opus Software Solutions has ambitious future plans owing to success of its subsidiary Electra card Services (ECS) last year.The company is positive about 3-4 deals in the country and one in Taiwan.

"We are also looking at 3-4 multi-year contracts worth $10-15 million each a year in the US," said Ramesh Mengawade, managing director.

The company will thus have a client base of at least 15-20 customers in next five years which will push its revenues to $100 million.

Recently, the firm bagged multi-year contracts from leading banking and credit card players such as Deutsche bank, Thomas Cook, Bank of Rajasthan and two clients in the US.

Mengawade said, "We have won a multi-year, multi-country contract with Deutsche Bank for end-to-end outsourcing of credit cards processing. The contract over five years will see us get revenues of $10-12 million a year, thus totalling $50-60 million over five years."

He added, "The Indian launch will be followed by a launch in China and Sri Lanka in the next 3-4 months."

"This essentially means we are moving up the value chain from providing software solutions to providing software and services with the launch of ECS," said Mengawade.

According to Mengawade this is a $10-12 billion industry growing at 10-12 per cent per annum and the US is its main market.

"As for us, we just launched ECS to service this market and from negligible revenues this financial year we expect ECS to reach $100 million in five years."

ECS will provide all services from statements, application processes, authorising, billing besides marketing and collections.